Praxair Sells Advanced Components Business
February 01, 2012
DANBURY, Conn., February 1, 2012 — Praxair, Inc. (NYSE: PX) has executed a definitive agreement by which Praxair sold its advanced components business to FM Industries, Inc. of Fremont, Calif. FM Industries is a wholly-owned subsidiary of NGK Insulators of Japan. Terms of the transaction were not disclosed.
The advanced components business designs, engineers, manufactures and supplies electrostatic chucks (ESCs) and critical chamber components for semiconductor processing equipment. ESCs are used in etch, chemical vapor deposition and physical vapor deposition tools, ion implanters and metrology tools. The business also provides high-precision thermal spray coating services of ESCs and chamber components to improve tool performance and reduce the cost of ownership. The business employs approximately 70 people and generated sales of $28 million during 2011. Under the agreement, FM Industries, Inc. acquires operating facilities in Poughkeepsie, N.Y. and Phoenix, Ariz.
David Strauss, managing director of Praxair’s electronic materials business, said, "We were pleased to have worked with FMI on this transaction and believe these assets and offerings are a good fit for their business going forward. Praxair remains committed to the electronics market and will continue to actively pursue opportunities in the semiconductor, display and photovoltaic industries with our gases and materials-science products and services."
Praxair, Inc. is the largest industrial gases company in North and South America and one of the largest worldwide, with 2011 sales of $11 billion. The company produces, sells and distributes atmospheric and process gases and high-performance surface coatings. Praxair products, services and technologies are making our planet more productive by bringing efficiency and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, metals and others. More information on Praxair is available on the Internet at www.praxair.com.